Global Embedded Analytics Market, By Component (Software and Services), Business Function (Information Technology, Marketing and Sales, Finance, Production, Human Resources and Others), Deployment Model (On-Premises and On-Demand), Organization Size (Small and Medium-Sized Enterprises and Large Enterprises), Vertical (Banking, Financial Services, and Insurance, Healthcare and Life Sciences, Manufacturing, Retail and Consumer Goods, Energy and Utilities, Telecommunications and IT, Transportation and Logistics, Government and Defense, Media and Entertainment and Others) – Industry Trends and Forecast to 2030.
Embedded Analytics Market Analysis and Size
As per the analysis of DOMO, above 2.5 quintillion bytes of data were created every day by 2018. By 2020, it is expected that almost every individual will be capable to generate around 1.7 MB of data every second. The huge growth in data generation enables people to harness the growing value of analytics across business applications worldwide. Embedded analytics allow them to view data in context, ultimately leading to better outcomes and gaining valuable insight at the point of decision. As a result the demand for the embedded analytics will increase during the forecast period.
Data Bridge Market Research analyses that the embedded analytics market is expected to reach USD 167.71 billion by 2030, which is USD 55.98 billion in 2022, at a CAGR of 14.70% during the forecast period. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
Embedded Analytics Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015 - 2020)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Component (Software and Services), Business Function (Information Technology, Marketing and Sales, Finance, Production, Human Resources and Others), Deployment Model (On-Premises and On-Demand), Organization Size (Small and Medium-Sized Enterprises and Large Enterprises), Vertical (Banking, Financial Services, and Insurance, Healthcare and Life Sciences, Manufacturing, Retail and Consumer Goods, Energy and Utilities, Telecommunications and IT, Transportation and Logistics, Government and Defense, Media and Entertainment and Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Microsoft (U.S.), SAS Institute Inc., (U.S.), IBM (U.S.), Oracle (U.S.), TIBCO Software Inc. (U.S.), MICROSTRATEGY INCORPORATED (U.S.), TABLEAU SOFTWARE, LLC, (U.S.), QlikTech International AB (Sweden), Open Text Corporation (Canada), Bella Data Labs (Japan), Hitachi Vantara LLC (U.S.), Syncfusion Inc. (U.S.), Salesforce, Inc. (U.S.), insightsoftware. (U.S.), Infor (U.S.)
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Market Opportunities
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Market Definition
Embedded analytics is being designed to make analysis of business intelligence and data that is more reachable by all types of user organization or application. Numerous enterprises are moving towards embedded analytics due to the integrated structure of the BI tools and business application in a single suite. As compared to traditional method of business analysis, embedded analytics are proven to offer a higher level of solution to problems.
Global Embedded Analytics Market
Drivers
- Increasing usage of smartphone all over the globe
Rapid usage of smartphone has augmented the rate of digitalization all around the globe. According to current data, the global smartphone penetration reached over 78 percent in 2020. This is based on the 6.4 billion smartphone subscriptions in the world. Now, mobile devices integrated with embedded analytics aid in real-time data visualization. Also, growing need for analysing results with embedded analytics software in smartphone will reduce operation costs, save time and increase productivity. These factors are anticipated to increase demand for embedded analytics software and propel market growth during the forecast period.
- Increasing use of hand-held devices and cloud computing
When embedded analytics is integrated with cloud computing, businesses can better understand their consumer data. Hence, increasing implementation of cloud computing technologies is one of the major factor which is expected to drive the growth of the embedded analytics market during the forecast period. Moreover, the increasing usage of hand-held devices such as tablets and mobile phones has augmented digitalization. Digitalized data is an essential source of information for embedded analytics which has increased the market growth.
Opportunities
- Rising need for data analysis in marketing activities
The need for the data analysis is rapidly increasing owing to augmented marketing activities for the business promotion. Embedded analytics tools help in data presentation which is integrated with apps and internal software systems for a business. This ever-growing requirement for segmented data is expected to create immense for the growth of the embedded analytics market in upcoming years.
- Increasing data analysis for business model expansion
Growing business models offer a major opportunity for the growth of the global embedded analytics market. Financial data analysis for expanding business models such as business-to-consumer (BtoC), business-to-employee, and business-to-business (BtoB) is a major benefit of embedded analytical tools for businesses which is creating opportunities for the growth of the market.
Restraints
- High cost associated with embedded analytics
High replacement cost is anticipated to hinder growth of the market during the forecast period. Embedded analytics can be advantageous in numerous ways but substituting old systems with the appropriate embedded analytics software is very costly businesses. Furthermore, competency building and staff training are also costly processes, which are anticipated to obstruct the market revenue growth in the forecast period.
This embedded analytics market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the embedded analytics market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Development
- In 2021, TIBCO Software, Inc. announced new functionalities and developments for its Predict portfolio of products, which will provide scalable, efficient analytics and considerably decrease time-to-insights across the company. TIBCO also helps customers unite, connect, and reliably determine business. The integration of analytics with TIBCO's data virtualization and data management services will allow customers to scale reporting on any data, increasing business operations.
- In 2021, IBM Corporation announced key storage portfolio enhancements that aimed at improving data management and access in complex hybrid cloud environments for increased data durability and availability. This solution will combine IBM's universal parallel file system technology with data security software for accessing data across data centers, and hybrid cloud settings.
Global Embedded Analytics Market Scope
The embedded analytics market is segmented on the basis of component, business function, deployment model, organization size and vertical. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Component
- Software
- Services
- Managed Services
- Professional Services
- Consulting Services
- Education and Training
- Support and Maintenance
Business Function
- Information Technology
- Marketing and Sales
- Finance
- Production
- Human Resources
- Others
Deployment Model
- On-Premises
- On-Demand
Organization Size
- Small and Medium-Sized Enterprises
- Large Enterprise
Vertical
- Banking, Financial Services, and Insurance
- Healthcare and Life Sciences
- Manufacturing
- Retail and Consumer Goods
- Energy and Utilities
- Telecommunications and IT
- Transportation and Logistics
- Government and Defense
- Media and Entertainment
- Others
Business Function
- Marketing
- Sales
- Finance
- Operations
- Others
Deployment Model
- On-Premises
- Cloud
Organization Size
- Small and Medium-Sized Enterprises
- Large Enterprises
Vertical
- Banking, Financial Services, and Insurance
- Telecommunications and IT
- Government and Defense
- Manufacturing
- Healthcare and Life Sciences
- Retail and E-commerce
- Energy and Utilities
- Media and Entertainment
- Others
Embedded Analytics Market Regional Analysis/Insights
The embedded analytics market is analyzed and market size insights and trends are provided by country, component, business function, deployment model, organization size and vertical as referenced above.
The countries covered in the embedded analytics market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the embedded analytics market in terms of revenue and market owing increasing attention of major industry verticals including retail, BFSI, healthcare, and government and among others on embedded analytics. Moreover, the presence of major market players will further increase the market growth in this region.
Asia-Pacific will continue to project the highest compound annual growth rate during the forecast period of 2023-2030 owing to the growth and expansion of industry verticals including retail, BFSI, and manufacturing verticals in this region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Embedded Analytics Market Share Analysis
The embedded analytics market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to embedded analytics market.
Some of the major players operating in the embedded analytics market are:
- Microsoft (U.S.)
- SAS Institute Inc., (U.S.)
- IBM (U.S.)
- Oracle (U.S.)
- TIBCO Software Inc. (U.S.)
- MICROSTRATEGY INCORPORATED (U.S.)
- TABLEAU SOFTWARE, LLC, (U.S.)
- QlikTech International AB (Sweden)
- Open Text Corporation (Canada)
- Bella Data Labs (Japan)
- Hitachi Vantara LLC (U.S.)
- Syncfusion Inc. (U.S.)
- Salesforce, Inc. (U.S.)
- insightsoftware. (U.S.)
- Infor (U.S.)
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